GOAU - Gold Miners' Profits To Soar
The gold miners are likely to report blowout profits in this spinning-up Q3'19 earnings season. Higher production, stable costs, and much-higher gold prices should combine for some super-impressive results. That's going to leave the still-undervalued gold miners much more attractive fundamentally, supporting bigger capital inflows and much-higher stock prices. Q3 should prove the gold miners' best quarter in years.
Stock prices are ultimately dependent on underlying corporate earnings. Over the long term, all stock prices gravitate towards some reasonable multiple of their underlying companies' profits. Herd greed and fear can force stock prices to disconnect